Report
Research Team

WOOD Daily: SPL PW; TL Macro; DNP PW; CZG CP; 4IG HB

HEADLINES:
• Santander Bank Polska: sells 60% stake in SCB for 2024 P/BV of 1.2x, books modest gain of PLN 0.4bn NEGATIVE
• Türkiye macro: weak BoP, but improving budget
• Dino: AGM approves 1:10 share split NEUTRAL
• Colt CZ Group SE: closes VSS acquisition
• 4iG: signs non-binding term sheet to acquire nine defence subsidiaries from N7 Holding NEUTRAL
Underlyings
4iG Nyrt

4iG Nyrt. 4iG Nyrt, formerly Freesoft Szoftverfejleszto es Szamitatechnikai Szolgaltato Nyrt is a Hungary-based company engaged in providing software products and consultancy. The Company's activities include development and implementation of specific, custom-made software systems, document management, knowledge management, portal and collaboration applications, complex services for business needs in the areas of implementation, support and consultation, intranet- and Internet-based development, services, graphical and creative design, and consultation, design, development and implementation of mobile business applications, as well as operation, support, outsourcing, application service provision (ASP), application portfolio management (APM), hosting and other services. The Company has three subsidiaries: Axis Consuling 2000 Kft, BankSoft Kft and HUMANsoft Kft.

Ceska Zbrojovka Group

Dino Polska S.A.

Dino Polska is engaged in the business of retail sale in non-specialized stores with food, beverages and tobacco. In addition, Co. conducts processing of meats and the resulting products are dedicated, in the form of culinary meat, to external recipients within Co.'s retail chain. As of December 31, 2016, Co. operated a network of 628 Dino stores.

Santander Bank Polska SA

Bank Zachodni is a bank seated in Poland. Co. and its subsidiaries provide a range of banking services for individual and business customers and operate in domestic and interbank foreign markets. Additionally, Co. provides also the following services, including intermediation in trading securities, leasing, factoring, asset/ fund management, insurance services, trading in stock and shares of commercial companies, and brokerage activity. Operational activity of Co. and its subsidiaries has been divided into five segments: Retail Banking, Business and Corporate Banking, Global Banking and Markets, ALM (Assets and Liabilities Management) and Centre, as well as Santander Consumer.

Provider
Wood and Company
Wood and Company

WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.

A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.

Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.

We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.

Analysts
Research Team

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